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Earnings Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table details the reconciliation of basic earnings per share to diluted earnings per share:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator for basic and diluted earnings per share: |  |  |  |  |  |  |
Net income | $ | 67,738 |  |  | $ | 49,130 |  |  | $ | 121,908 |  |  | $ | 80,005 |
Denominator: |  |  |  |  |  |  |
Weighted-average basic common shares outstanding | 42,527 |  |  | 41,980 |  |  | 42,528 |  |  | 41,987 |
Assumed conversion of dilutive securities: |  |  |  |  |  |  |
Stock awards | 748 |  |  | 771 |  |  | 758 |  |  | 723 |
Convertible Senior Notes | — |  |  | — |  |  | — |  |  | — |
Denominator for diluted earnings per share - Adjusted weighted-average shares | 43,275 |  |  | 42,751 |  |  | 43,286 |  |  | 42,710 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 1.59 |  |  | $ | 1.17 |  |  | $ | 2.87 |  |  | $ | 1.91 |
Diluted | $ | 1.57 |  |  | $ | 1.15 |  |  | $ | 2.82 |  |  | $ | 1.87 |
For the three and six months ended June 30, 2024, and 2023, stock awards representing the right to purchase common stock of approximately 75,000 and 119,000 shares and 344,000 and 423,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an antidilutive effect. We have used the if-converted method for calculating any potential dilutive effect of the Convertible Senior Notes on our diluted net income per share. Under the if-converted method, the Notes are assumed to be converted at the beginning of the period and the resulting common shares are included in the denominator of the diluted earnings per share calculation for the entire period being presented. The net interest expense related to the Convertible Senior Notes, after tax, is only added back to the numerator in periods when its effect is dilutive. The approximately 1.2 million remaining resulting common shares related to the Notes are not included in the dilutive weighted-average common shares outstanding calculation for the three and six months ended June 30, 2024, and 2023, as their effect is antidilutive. See Note 8, “Debt,” for discussion on the conversion features related to the Convertible Senior Notes.

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